Overall Economy’s PMI Falls for Third Consecutive Month

New data on Purchasing Managers’ Index for Iran’s overall economy declines for the third consecutive month.
The PMI, known by its Farsi acronym Shamekh, for Iran’s overall economy settled at 50.97 in the current Iranian year’s ninth month (Nov. 22-Dec. 21) from 51.07 registered in the previous month, indicating a 0.1-point or 0.19% decline.
According to the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture, the sponsor and coordinator of the report, the survey of businesses shows continuation of recession, fluctuation in foreign exchange rates and diminished purchasing power have negatively affected expectations in the business environment, such that companies witnessed a decline in working capital and purchase orders.